Euro (€) Currency Thread

inspector_monkfish

BOE at 12.00 - not alot expected
ECB at 12.45 - anything could happen from those crazy guys !!! mind yer eye:eek:

inspector_monkfish

11:08 04Jun09 EUR/GBP: Extends South to 0.8650, BoE & ECB Ahead

11:08 EUR/GBP: Extends South to 0.8650, BoE & ECB Announcements Ahead] London,
June 4.

EUR/GBP has just plumbed a fresh intra-day low of 0.8650 as the pound continues to benefit from the Halifax"s 08:00GMT disclosure that UK house prices rose by 2.6% last month, compared to a forecast fall of 1.0%. Sell stops below 0.8650 were tripped earlier this week (Monday). The cross plumbed a 2009 low of 0.8576 in early European trade yesterday. 0.8734 was today"s Asian session top.

Today"s key UK event risk is the 12:00 BoE MPC monetary policy announcement. There will be an ECB monetary policy announcement at
12:45, with ECB President Jean-Claude Trichet"s ensuing press conference slated to start shortly after 1:30.

inspector_monkfish

12:00 04Jun09 BoE holds rates at 0.5 percent, maintains QE

LONDON, June 4 - The Bank of England Monetary Policy Committee held interest rates at a record low as expected on Thursday and said it would maintain its 125 billion pound quantitative easing programme.

inspector_monkfish

creeping up to 1.1585
1min before ECB annoucement

inspector_monkfish

12:45 04Jun09 ECB SAYS LEAVES MAIN REFINANCING RATE UNCHANGED AT 1.0 PCT (REUTERS POLL 1.0 PCT)

12:45 04Jun09 ECB LEAVES MARGINAL LENDING, DEPOSIT FACILITY RATES UNCHANGED AT 1.75 PCT, 0.25 PCT RESPECTIVELY

12:46 04Jun09 ECB keeps main interest rate at 1.0 pct as expected


FRANKFURT, June 4 - The European Central Bank left its benchmark interest rate unchanged at a record low of 1.0 percent on Thursday, as expected.

Markets are now awaiting President Jean-Claude Trichet's news conference at 1:30 , when he will explain the decision and give specifics on the bank's plans to buy up around 60 billion euros' ($85 billion) worth of covered bonds.

The ECB also kept its overnight deposit rate, which is acting as a floor for money markets, at 0.25 percent, and left its marginal lending rate at 1.75 percent.

Seventy-six of 78 economists in a Reuters poll had expected the ECB to leave rates on hold. Two said it would cut them.

"This was no surprise," said Natixis economist Sylvain Broyer. "I understand that they want to hold ammunition in rates, but I hope to see further moves towards more dovish statements."

Euro zone inflation is low and the economy is shrinking fast, although some data have shown signs of improvement.

Markets are also keen to see whether Trichet gives any signals that the ECB plans to keep rates low for a lengthy period, or alternatively, whether they could be reduced further.

Another focus will be on whether he hints that the ECB is considering other types of assets for potential purchase apart from covered bonds.

inspector_monkfish

:eek: at 12.57 rate just collapsed...
trading at 1.1490 at mom, from 1.1590

trying to find out why....

inspector_monkfish

13:02 04Jun09 EUR/GBP: Leaps on Brown Resignation Rumour

[12:02 EUR/GBP: Leaps on Brown Resignation Rumour] London, June 4.

A rumour that UK PM Gordon Brown had resigned is being attributed as the cause of the penny+ EUR/GBP leap from the intra-day low of 0.8625 plumbed after the "unchanged" ECB interest rate decision.

inspector_monkfish

13:12 04Jun09 EUROPE: Rumours of Brown's resignation "absolute nonsense" - office

12:10 GMT - [PM BROWN'S] office have said that rumours of his resignation are "absolute nonsense", seeing Cable off the lows and back up to 1.6230. The jumpy moves are clearly a sign of a nervous market, however some suggest that ultimately, it will be better for the Pound to see Alan Johnson as party leader.

Roblyn_2

I'm going on holiday to Turkey next week and have been advised by my travel agent to take travellers cheques in Euros as the exchange rate in Turkey is better in Euros than Sterling. Part of my reason for going to Turkey is to avoid the Euro zone because of the poor exchange rate. Does anyone have any advice on this subject please?

Many thanks.

bigjoneh

What the hell just happened?

The pound just dropped from 1.152 to 1.143 in 1 minute.